Kleintop pointed to data from the Investment Company Institute showing that investors have been net sellers in stocks four out of the five past months; and from the American Association of Individual Investors showing bullish sentiment has averaged 38% this year, below the 10-year average of 41%. Also, company insiders have been net sellers of stocks recently, he noted.

On top of all this, the current bull market has proved to be the strongest since WWII, Kleintop said, with nothing like a bullet or crossbow arrow to the head so far to stop it.

Like a Walker (what zombies are called in the show), the market’s body has been riddled with countless bullets and wounds such as fiscal cliff tax increases and the sequester, along with international headwinds like Europe’s recession and slowing growth in China. But it just keeps on going.

So, if all these weapons in a bear’s arsenal haven’t stopped this shambling bull, what’s left this year?

Well, there’s the inevitable winding down of the Federal Reserve’s asset purchases, a revisiting of the debt-ceiling battle in Washington, elections in Germany, and chronic worries over growth in Europe.

“A volatile second half in the stock market is likely, but so too are potential gains as the U.S. economy continues to post growth of about 2%, resulting in opportunities to buy on the dips,” Kleintop said in his note.

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